Is she paying off the cost of her failure or not?
Is she broke from paying it off?

If the answer to the first is yes, and the second is no, then perhaps she is a good pick.

Who better to advise the Banks taking stimulus payments, on paying the money back and recovering from their failures than someone who has walked awhile in their shoes?

I guess if you apply your logic Daschle was a good pick too.

He paid his taxes off. He can answer Yes/No

Nah, both are crummy picks along with Lozano too.

It's just the same old story - if you help me get elected I'll find a place fer yer. Subprime and illegals.

But this seven-year-old bank failure has relevance in another way today, since the chair of Superior’s board for five years was Penny Pritzker, a member of one of America’s richest families and the current Finance Chair for the presidential campaign of Barack Obama, the same candidate who has lashed out against predatory lending.

That is the bottom line.......see link above.

It really isnt the same. Have you researched what happened?

I can see there is no arguing the point with you. You have already made up your mind to analyze and attack everyone Obama picks for every little discrepancy. Regardless of the facts behind the discrepancy.

I never heard of any such report on the situation or any major group put together. you have a reference to their research? Or is this another example of transparency by our fearless leader?

Sure!
Just for you Andrew.

Obama names his economic team
Geithner nominated as Treasury chief, Summers picked as director of National Economic Council.

Last Updated: November 24, 2008: 3:19 PM ET



http://money.cnn.com/2008/11/24/news/economy/obama_economic_team/

How about affording me the same respect by reading it!

That's naming his economic team though. you mean to tell me they analyzed the entire crisis and figured out in two months what nobody else could since may (when the downturn began)? Either way, I've never seen any report of findings or anything... just that they want to piss away all this money.

Obama had unofficially been studying the problem since it first came to light.
He's not one to procrastinate and this problem calls for expedient action.
Every day that passes is costing more jobs and sinking the country deeper into recession.

This stimulus will not do anything.

But, they could have send out say $2000 credit cards to all citizens, with an expiration date say one month. Acceptable only in retail. That would really "bring the housing prices back up".

AS a pres., of course, he has to do "something". I'll give him this. Even if he does know that it will not do anything.

What? Not paying your taxes is a little discrepancy? Advocating drivers license and voting rights for illegals is a little discrepancy? A background that includes major involvement in the subprime mess is a little discrepancy?

Please..... I just don't see the benefit of having such people on an economic board or other positions. Remember the campaign pledge - special interest groups will not work in my administration - right Mr. President.

Ooops, you forgot to mention the people that lost their homes when they lost their jobs. There are also the banks that lied to people.

That is interesting - $2,000 to be spent on retail. I've not seen that idea before.

I give him credit for trying to do something in a desperate situation. I can't imagine how difficult it must be to have this thrown in your lap when you've only been on the job for two weeks.

Obama is trying to hold up the bank plans until the stimulus is approved. That is wrong. Until the bank mortgage meltdown is addressed nothing will change and if it's more of the same (capital injection or just insurance for bank losses) nothing will change.

http://news.yahoo.com/s/afp/20090208/ts_alt_afp/uspoliticsobamaeconomyfinancebanking_20090208205

"Summers said the first half of the TARP spending had "averted what could have been a profound collapse," but said the credit markets were still not functioning and accepted criticism of the spending's opacity."
==========================
That is a profound statement on Obama's real conclusions as to the results of the first half of the bailout.

My question is why keep delaying the announcement of the bank plan? Reason is Obama thinks the plan will be easier for the American people to swallow if they are getting something. It's political.
==========================

"Geithner was initially planning to roll out his new measures, revamping the second half of a 700-billion-dollar financial bailout called the Troubled Asset Relief Program (TARP), on Monday.
But the Treasury Department said the announcement had been deferred to Tuesday as the Senate prepares to vote on a huge stimulus plan and Obama lobbies for the bill in Indiana before giving an evening news conference."

If the bank plan is ready, release the details and put it into action.

"The stakes for the Obama administration’s bank bailout proposal are high, economists say. Regardless of the specifics of the differing economic plans pending in Congress, no spending stimulus is likely to have much long-term effect unless the bank bailout works."

http://www.nytimes.com/2009/02/09/business/09bailout.html?_r=1&hp

The plan may have an interesting idea to ease the situations by trying to get private investors but when a bank sells billions and billions at 22 cent on the dollar that's quite a loss to overcome.

Do you read what i write? Bro, i KNOW it would lead to a depression. But, if you do the math, the longer we wait the worse it will be. So either we have a catastrophic depression now, or a total economic collapse 5 years from now (mayber sooner, or later).

Obama and his team are seeking NO solution to this problem because the banks deal with the economy, not the government. Banks will write up the policies, and give them to the government to sign, and usually they are signed. But, this is a bit speculatory.

However, this isn't

In 1913 the central bank was signed into existence. From this day forward every dollar has to be paid back + interest. I mean EVERY dollar in circulation.

A few years later the Great Depression happen as a result of people paying off their loans. This is a no no, because the very act of doing this takes money out of circulation.

Somewhere along the lines there was a Fractional Reserve system that was put into place. (Not sure when, but it does exist.) This basically makes money worthless, and makes debt the ACTUAL currency. Fact: %90 of the money in circulation doesn't actually exist, even in paper form.

In the early 70's (1971) this problem was addressed again. Congress, knowing the system was gonna crash, voted that money no longer had to be backed by precious metals. This gives, the central bank, the power to print and loan as much money as they want with no limitation.

In 1977 the Community Reinvestment Act was voted on and passed. This pressured banks to give loans to much riskier clients. They hid behind the false pretense of "making money more available to the less fortunate". Unfortunately ignorant (not dumb) people actually believed this. Ever wonder what cause the housing collapse? It was a combination of all these events.

Seeming how people still don't believe me, i challenge any and all to solve this equation.

[principal / (principal + interest)]

The first part is the borrowed part. This is all the money that goes into circulation. You know the money that goes from consumer to employer, from employer to your wallet, then back to someone else's employer etc. This is all the money "we the people" are allowed access to. (Pricipal + Interest) is the money "we the people" have to pay back eventually.

In order to keep the system going, you NEED to contiually borrow more money every day. When i say more, i mean if you look at the 1950's when americans had a total of 1 trillion dollars of debt, and you compare it to now when americans have a total of 50 trillion dollars in debt and put in on a graph, you will look at an "exponential curve". This means one day you need $200 in loans, tomorrow your will need $400 in loans, the next $800 in loans, the next day $1,600 in loans, etc. Get my drift? This debt isn't even taking into consideration the loans that are being paid!

This is WHY the Communit Reinvestment Act passed, and WHY we were taken off the gold standard despite it being illegal, and this is WHY we have a "Fractional Reserve System".

To "leave this to the experts" is unAmerican. "We the people" need to keep this system in check or it runs away. To just convince yourself that you voted good people into office is to be naive. These people need to be questioned constantly.

I understand why they wouldn't want to announce this sort of thing publically. It would cause panic. This is because if you follow the math to the end paying the banks back (principal + interest) would meant that we the people would have to give back 100% of the money we have in circulation, + our personal properties used as collateral.

I can tell you where to start researching to prove me wrong. Try and find a source of money that can enter the system WITHOUT charging interest. Until then i am either smarter than the "economic experts", or i am the only one addressing the real problems in public.

-Good day ladies and Gents

STOP THE SO-CALLED ECONOMIC-STIMULUS BILL
All Americans who are concerned over the fiscal irresponsibility of Congress and the inflationary effects of its trillion dollar deficits, trillion dollar bailouts, and trillion dollar stimulus package, must contact their representative immediately in opposition to H.R. 1, the economic stimulus package.

Rep. Ron Paul issued a statement yesterday regarding this bill which makes it clear what type of bill it is and some of the reasons why we must oppose it. Here are some highlights:

• "In reality, this bill is just an escalation of a government-created economic mess. As before, a sense of urgency and impending doom is being used to extract mountains of money from Congress with minimal debate..... We are again being promised that its passage will help employment, help homeowners, help the environment, etc. These promises are worthless. This time around especially, Congress should know better than to pass anything of this magnitude without first reading the fine print."

• "At least $4 billion is allocated to expanding the police state and the war on drugs ... and the COPS program, both of which are corrupt and largely ineffective programs."

• "To help Big Brother keep a better eye on us and our children, $20 billion would go towards health information technology, which would create a national system of electronic medical records without adequate privacy protection." [To read a warning about this RFID-related threat to privacy check out The New American magazine online in a 2005 edition]

• "$79 billion bails out states that haphazardly expanded their budgets during the bubble years, but refuse to retrench and cut back, as their taxpayers have had to, during recession years."

• "$200 million expands Americorps. $100 million goes to “faith-and-community” based organizations for social services, which will further insinuate the government into charity and community service."
• "Of course the bill is rife with central planning projects."

• "This bill delivers an additional debt burden of $6,700 to every American man, woman and child."

• "There is a lot of stimulus and growth in this bill – that is, of government. Nothing in this bill stimulates the freedom and prosperity of the American people. Politician-directed spending is never as successful as market-driven investment. Instead of passing this bill, Congress should get out of the way by cutting taxes, cutting spending, and reining in the reckless monetary policy of the Federal Reserve."

The bottom line is that Americans need to help preserve their freedom and prosperity by opposing this nearly trillion dollar economic stimulus package! Note: The House passed this bill today but not one Republican voted for it and 18 Democrats opposed it. Lets pray that the Senate votes it down!! As Americans,Republican and Democrats we need to stand together and unite against this before this country has lost all its freedoms and liberties. The time is now. Thanks.
Bob Smith, 2009 Jan 29

======================================

It seems that only a few want to hear the intelligent views on the issue.

Unfortunately everyone is much too confortable. Someday reality will hit. I wonder if they will still blame the ones that warned them against this mess.

Possible, but unlikely. Usually, when reality hits us in the face, we just move on, and laughter at those who "haven't got with the flow yet", if we weren't much involved in stupidity. If we were, then we never admit it was wrong. We find endless excuses, or forget the whole mess as if it never happened.

Pay attention people's attitude on housing bubble popping. Few will admit now that "housing prices always go up". But 2 years ago? I was called an idiot for talking about it, and was offered to "get back under whatever the stone I was living under". My best friends, never did that of course, but not a single one of them followed my advice.

Most people don't give 2 ****s about what's right. They do everything they can to not get out of alignment with the crowd. Be it 911 or housing or now the stimulus package, it is all the same.